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Monday, March 6, 2017

PSA targets Opel turnaround as GM exits Europe

PARIS/FRANKFURT (Reuters) - France's PSA Group has agreed to buy Opel from General Motors in a deal valuing the business at 2.2 billion euros ($2.3 billion), creating a new European car giant to challenge market leader Volkswagen .

Futures slip after Trump's wiretap accusation

(Reuters) - U.S. stock index futures slipped on Monday as President Donald Trump's accusation that his predecessor, Barack Obama, wiretapped him cast a shadow on the market.

Trump adviser Navarro: lower U.S. trade deficit would boost growth

WASHINGTON (Reuters) - President Donald Trump's trade adviser, Peter Navarro, said on Monday that reduction of U.S. trade deficits through tough negotiations with America's trading partners will boost growth and preserve U.S. national security.

GM shifts from bigger is better to less global, more profitable

DETROIT (Reuters) - General Motors Co’s decision to sell its European operations doubles down on a bet that the company can win by being less global, but more profitable, in an auto industry increasingly driven by software.

Deutsche Bank shares drop on capital hike plan

FRANKFURT (Reuters) - Shares in Deutsche Bank fell almost 7 percent in early trading on Monday after the lender announced an 8 billion-euro ($8.48 billion) capital increase that Chief Executive John Cryan had previously declared a last resort.

Euro zone investor morale hits almost 10-year high

BERLIN (Reuters) - Investor sentiment in the euro zone improved more than expected in March, hitting its highest level in almost 10 years on Monday, as concerns that global political risks could end an economic upswing dissipated.

Oil slips on concerns over Chinese demand, Russian output

LONDON (Reuters) - Oil prices slipped on Monday, wiping out some of the previous session's gains, as lower growth targets in China and concerns over Russia's compliance with a global deal to cut oil output sparked renewed worries over a crude oil supply glut.

ChemChina says Syngenta deal filing accepted by Beijing

BEIJING (Reuters) - ChemChina [CNNCC.UL] said on Monday that Beijing had accepted its application for regulatory approval of its $43 billion takeover of Syngenta last month.

Funds expect Saudi Aramco to be valued around $1-1.5 trillion: survey

DUBAI (Reuters) - Fund managers and institutional investors expect oil giant Saudi Aramco to have a market capitalization of $1 trillion to $1.5 trillion when it sells shares to the public next year, a survey by regional investment bank EFG Hermes showed on Monday.

China's Xi says Shanghai should lead in reform, innovation: Xinhua

SHANGHAI (Reuters) - Shanghai should lead China's plans to reform and advance innovation, the official Xinhua news agency has reported President Xi Jinping as saying at the annual meeting of parliament.